Domestic revenue reached EUR 0.3 bln, said Ildikó Gyurján Fejes. Higher costs of feedstock and parts, paired with market expectations for discounts impacted Magyar Suzuki’s results, although energy costs were down 62pc from their peak in 2022, she added.
Róbert Krisztián, Magyar Suzuki’s deputy-CEO, said that, in spite of a stagnating automotive market on the continent, Suzuki’s market share edged up from 1.5% to 1.6%.
In Hungary, Suzuki had 12.9% market share as sales climbed 29.3%, he added.
Masato Atsumi, Magyar Suzuki’s CEO, said that, in spite of difficulties, 2024 had been more predictable than earlier years, as production and sales remained stable.
In a press release, Magyar Suzuki said 111,492 cars rolled off the line in Esztergom in 2024, down from 160,338 in 2023.
The company noted that production volume had climbed in 2023 to replenish low inventories of European distributors and Hungarian dealers due to the earlier semiconductor shortage.
The production figure for 2024 “aligns with the trends of previous years and medium-term expectations”, it added.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
